>> morgan what do you think? >> couple of lawsuits can hurt. >> for my own sake i home emac is right. >> keep it right here number one business block continues with with can issuin end. >> everyone worried about greece's debt bomb. 435 billion and counting. should we worry about this 435 billion. that's how much private company pensions are underfunded here in the u.s.. welcome to cashin n >> and joining us this week is johnathon and tracey and jim. and wane. >> the amount of underfunded private pensions. noup the same amount as the debt in greece. you think we should be concerned about this. >> it is a huge problem and

while it may not represent the systemic problem nathat greece does, it may be a harder problem to solve here. corporations can't print money to pay what they owe. it is a broken promise to the retired. and the fed is kind of responsible because they kept interest rates artificially low and difficult for the pension plans to make money. it will come out of corporate profits or out of the pockets of retireys that are facing higher food and fuel costs. >> wayne, how much should we be worried. we are talking about europe and greece, are we looking in the wrong direction? >> no, you have to be worried any time when a worker or somebody're said i am contributing in a retirement plan and i am not going to get my money back. you have to blame the

politicians and company on the other side. if they are not managing it proper in the time of interest rates being so low, they have miscalculated by a wide margin what they would be worth. they base them on eight or nine percent and they are not getting that at all . they are mismanaged and they are not making the contribution. yes, it is a big worry. >> julian companies are trying to deal with private pensions again they are underfunded and don't have the money. general motors, they cut 26 billion from the pension obligation. you think that more u.s. companies are going to have to address the issue? >> i think they wil. the problem is the public side and 43 states made reforms and we are not anywhere like greece. greece has so much more problem on the public side. there are changes that are happening. to the question of the reforms that private companies are

making and many of them are going to define benefits and contribution plans and law in 2006. anded out by wayne. it is two trillion of cash right now. and it is not a big problem. and largely it is being dealt with to the extent that there is a problem here and the funds are not making money. and to the point millions of americans are drawing from the pension and that is a big piece of the economy they are spending particularly when there are 401 k's go down. should we be concerned about that and the affect on the economy. >> sheril, the affect of private pension funds and underfunding is much less. i agree with julian than the

problem in the public sector. we are talking about 35 billion and public sector short fall is a trillion dollars and we talk about mistaken assumptions and they are making conative assumptions than public has. and in fact look at what is going on in europe. it is the public pensioners and unions that are riding. >> and i am not as worried. >> tracey on the private sector side and the companies that you and i cover on fox business they are facing the issues an this is a bigger piece than the public pension program is going to be. it is a larger scale issue that we have on the private side. >> up shot is, only 10 percent of the companies are still offering the defined benefit plans and as a result we are segwaying out of it. it is changing. the days when somebody went to work for ibm and collect their

pension it is long gone. any money they put in anything that is out of their hands has to become a worry. you are worried that they are not managing it properly. >> i have to say the concern for the companies themselves . i point to the general motors for example. they were the biggest issue when it came to the private pension issue. at the same time many american companies are having the same problem and that hurts the u.s. economy. >> it does and doesn't. both julian and they touched on that companies are changed from a defined benefit plan and means, i am committed to making certain payments as opposed to a defined contribution plan and means, i will make it and contribute and whatever comes out is secondary. and so everybody has to convert to that. we are 10 percent of us have it and 90 percent of the companies in the united states

converted to that and it has to be. >> that is why i am not as worried about the private fund. to wayne's point they are response itch. general motors. they are off loading the mention obligation. and and i almost hope they don't go away altogether. people then rely on a sort amount of money. >> you can't misdemeanor. people have to unfortunately, the world has changed and the notion of poor people, you know, worked all of their lives and waiting for something they will not get. it is gut wrenching and not going to happen anymore. >> i agree tracey. and i think as wayne pointed out. we are moving to a defined contribution. and the point that many companies are not offering

these points. third piece of the puzzle is the economy. the reason that these pension plans are not making money is because of the economy in the tank for last four or five years and interest rates are low. if the economy comes back and at three-four percent growth and interest rates return, you have less of a problem and the plans, at least the ones in place will be able to generate income and you have the three factors. the fact that the companies are not offering it and if the economy comes back these plans will make money. >> but jim, the problem that we ponented out earlier, 50 plus americans, 4.4 million still depend on the private pension flans that - plans that are underfunded. >> you talk about the percentages all you want and corporate america and that is all true. but the fact of the matter

that folks who are impacted are hit with over 400 billion and that is tremendous amount of money that is a vacume in the economy. looking at three-four percent growth in the market and return to normal interest rate, don't bank on that soon. this is going to be a problem for a while. >> coming up. >> is the youth of america about to cause the job market to hemorage. >> we have a bleeder. >> number of adults on the health insurance plan now soared and more bleeding for the beat up job market. green for greed is not good according to the un wanting americans to stop buying tvs and cars and help poor people instead. my bad.

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supreme court set to rule on the law white house is doubting this. three million young adults are covered under the parents health care plan . administration claiming it gives young people the freedom to pursue jobs. >> i am an italian mother and i want to take care of my children. go get a job and the notion that just because you have health care and give you the freedom to find yourself. if you need it it is there. no, i don't.

smoke dope all day. one is a totally separate subject. >> we were looking at the unemployment rates for kids. 20 or 12.9 percent. and so they don't have jobs. they don't have jobs or health care. is it good to stay on the parent's health care plan. >> problem with tracey's argument is that there are not jobs for the young americans to find. and the idea that health care stops them to look for work. we should be happy about this.

18-30 years old are the lowest risk people out there, and so by having them in the insurance pool they lower the premiums for of the rest and they get sick or a catastrophic injury. they have to get health care assistance in emergency rooms and it cuts health care costs in emergency rooms it is good for all of us. >> i want to correct something julian. according to fosh bes at least. it raises the cost of insurance by $400. i am sorry. there is no free lunch and it is a costs, and i think it is a cost on america as well for the health and human secretary to say this gives young people freedom is double speak on the highest level and that is propaganda. it is not treed freedom it is force. it is building the entitlement

that said society owes you health care and job. >> whether you love or hate this idea. major health insurance companies will keep it aetnaand humanit and united will stick with it. it is here to say. does that mean kids are not looking for work? >> of course. they have more people under the nurturing umbrella. nancy pelosi said this will give people freedom to pursue the dreams of being an artist or musician and while they are playing stair way to hep it is a financial path to hell. and the system needs incentive. now, you can talk about whether it is incentive or not. but a lot of people 24-26 are newly married and starting familis and having health care is an incentive to get a job. >> young men, 72 percent of the young men now have health

care whether they choose to go to the doctor or not is another story. >> it is that type of coverage. that helps with the cost. >> at what price, cheryl. at the price of giving up individual freedom. to me, it is not a fair trade and not a cost saver and is building. in europe they call it the lost generation. people brought up with the notion of right to x, yz. that is what obama care s. >> can i point out. >> it is not being sold. why are we selling now freedom to go be. why is it promoting the lact dasical attitude. >> i am 26 and i will be there to help you . insure all three of my kids at age 26. >> it is not government welfare program. this is a program that allows children. and allows them to stay. -- (talking all at once.) one at a time folks. one at a time. >> this is a program that

allows people to stay on their parent's insurance program. i disagree with johnathon. it spreads out the rick pole and should lower premiums. and the picture of america's youth. let me stand up for them. the idea of sitting in their parent's basement and smoke pot and listen to stair way of heaven. theyment jobs and that -- >> guy, guys wayne rogers he's the guy to ask. you think they are lazy, wayne? >> no, no. julian is right. i mean, this is a nutty argument to think and relate some moral issue of they get health care and therefore they don't want to work. that is crazy. you want to work in the united states. and they can't get a job and they do want to work and health care has little to do with it. >> you are engaging in voodoo

economics and makes no sense whatsoever. >> jim, the last word on this. there is a lot of jobs and what do you think. >> it is tougher for a long time because of systemic issues and the determine whether or not this pays risk. they have to pay for health care and if they are paying for more it is coming out of the consumer's pocket and you go back to the incentive system here. >> great discussion . coming up. violence erupting around the world and what is the united nations doing? going after the tv you are watching it on. is the u.n. right or unreal next. with all the opinions about stocks out there, how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past.

i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. u.n. official said western nations don't need more cars and tvs. they need to help the poor.

>> and supreme court ruling

>> washington. escalating tenses between syria and turkey. turkey is promising to disclose whatever is necessary in response of syria shooting down the fighter jet. both sides said the navy is searching for mediterranean for the pilots. syria said it was in its air space when it was shot down. extreme weather as the storm cluster in the gulf of mexico. oil production companies are shutting down and evacuating personnel there. the weather is expected to form in a tropical storm debby and be the first to hit the oil and gas region this year. controversy over the fast and furious has a huge divide in congress and the house vote as

to whether to charge eric holder. we'll have all of that and much more coming your way. >> you would think with all of the hot spots erupting, enighted nations would not have time to tell us to cool it on assumption. western nations should stop baying more tv and cars and helping poor nations instead. you say our buying is helping poor people around the world. how so? >> look, when you buy a tv or ipod or laptop or ipad, you should wave to china. you helped them to get a job. this is called globalization. maybe they don't make as much money as we do. but eventually their wages will come up and it will help the globe. if we are using debt toothat's a problem.

but beyond that idiocy. >> are we helping or hurting poor countries? >> i don't care. i don't have to justify my lexus to the united nations or delivery of sushi or big screen tv. i easterned them and i don't have to sacrifi myself or do our viewer to a common good which is what the united nations is all about. weather in zim badwe. it is the most corp rupt. >> julian do you think we are all of control. >> it is a knuckle head who made the statement. but two things in the international markets when it come to developing country. institution that stop corruption. that stops the economies from developing. they badly need infrastructure f. we deal with corruption in the many developing countries, you would see the free markets flourish. >> wayne you think we need to

bey buy less tvs and help the world out? >> it is your money and freedom to spend it however you wish to spend it if you earned it. it is knuckle head economics and i don't know where it comes from. >> seems like i am agreeing with julian. un needs to mind its own business. >> tracey gets the last word. all right. guys. and thank you, julian epistein for joining us. coming up everybody. >> forget the upcoming health care ruling, how the new supreme court ruling on unidues could help job creators put americans back to work. [ male announcer ] at scottrade,

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time for do i need to know. >> supreme court ruled against unions. they were forcing the employees to pay dues. it is great for job creation. >> it was a interesting ruling. jim, what are you watching.

>> we saw the downgrade of the banks in the u.s.. we know they will keep printing money. fed and european central banks. they will. >> gold. you like gold. we'll see. and wayne, what do you have? >> if your income is erode looking forward to get a better return. look at ag& c. >> what is it >> it is pays excess of 15 percent. >> we like the dividend. >> and america is the most capitalistic country on earth. i will go with a great american company. harley davidson. they are performing and hog on is my list. >> johnathon you are getting behind the american companyings. >> it is a decade and underperform and now outperforming in a big way.